Your team is growing, and it’s time to bring in fresh talent. But what’s the smartest way to do it? While your internal network and recruitment efforts have had mixed results, you’re now considering whether partnering with an external firm is the right move. Is it worth the investment? Let’s explore some key advantages of hiring an executive recruiter.
Niche Specialization
Many recruitment firms have a specialization in a niche vertical or industry. If you focus in an industry, leveraging a recruitment firm with that same specialization could help open up a large talent pool of candidates quickly. It also saves time in having to train your Talent Acquisition or HR team on the particulars of the role and industry you are looking at. Hiring an executive recruiter that has a deep knowledge and understanding of your area will help alleviate sorting through endless applicants and will have you picking from a smaller pool of qualified candidates.
Wider Talent Pool
A typical recruiting process has you posting a position and looking at who is applying. Next is passive and active outreach from TA or HR teams in response to the postings. This process usually has a 25% success rate in uncovering aligned and qualified candidates. Where is the other 75%? Those candidates are sitting passively within other organizations, or attending industry events and associations that you are unfamiliar with.
When you leverage an external recruiter that has a specialization or industry of focus it widens your pool significantly. It will allow you to see not only a larger talent pool but typically a much more diverse pool of candidates you have not previously discovered. A specialized recruiter will make sure you are not missing out on talent that was previously undiscovered. This is one of the biggest advantages of hiring an executive recruiter.
Consultative Approach
Many companies spend money reviewing and assessing their hiring process. This is something that can be aided by hiring the right recruiting partner. When you use a consultative external recruiter, they will be able to offer insight into your process and where it can be improved. Where is the communication breakdown? Are candidates getting what they need out of the interview process? Are there aspects that are off-putting to the candidates and that’s why you are losing out on talent?
The best recruiters will always have insight into the marketplace as well. This includes defining the talent pool you will likely have and the salaries and benefits that are the most competitive. They will also know what other factors are important to candidates in the current market. It is getting the consulting side of the hiring process without having to hire a management consultant.
